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Asian Games gold medallist Sarita Gayakwad cheated of ₹69 lakh

The 2018 Asian Games relay champion alleges she lost more than ₹69 lakh in a sand business investment fraud in Gujarat.

By , Sports writer

· 2 min read

Asian Games
Asian Games (file photo) Photo: Foroogh Taherkhani / Wikimedia Commons, CC BY 4.0

Asian Games gold medallist Sarita Gayakwad has alleged she was cheated of ₹69.10 lakh by businessman Nitin Bharti, who promised high returns on a sand business investment. Police registered an FIR on October 29 and say the accused is absconding.

Key takeaways

  • Sarita Gayakwad won gold in the Indian women's 4x400-metre relay team at the 2018 Asian Games in Jakarta
  • She alleges she was cheated of ₹69.10 lakh in a sand business investment in Gujarat
  • The accused, Nitin Bharti, promised monthly returns of 4 per cent and repayment of principal after one year
  • An FIR was registered at Ahwa police station in Dang district on October 29
  • Police say Bharti is absconding and efforts are on to nab him

Asian Games gold medal-winning sprinter Sarita Gayakwad has allegedly been cheated of Rs 69.10 lakh after investing in a sand business in Gujarat on the promise of high returns. Police said the accused, Nitin Bharti, a resident of Vyara town in Tapi district, is absconding after failing to honour his commitments.

The complaint and FIR

Gayakwad filed a complaint at the Ahwa police station in Dang district, leading to an FIR against Bharti on October 29. Inspector K B Sankhla of the Ahwa police station confirmed the case. Gayakwad, 32, lives at Karadiamba village in Ahwa taluka of Dang district with her parents.

How the alleged fraud unfolded

According to the FIR, Gayakwad was introduced to Bharti in 2024 through a mutual acquaintance, Jitubhai, the sarpanch of Gadhvi gram panchayat in Dang district.

During their meeting, Bharti allegedly told her that he operated a large-scale sand business in Vyara, with vehicles transporting the building material to Mumbai.

He claimed to have invested Rs 3 crore to Rs 4 crore of his own money in the business and offered her a monthly return of 4 per cent on her investment, promising to repay the principal amount after one year.

Gayakwad said she invested money based on these assurances. However, Bharti neither paid the promised monthly returns nor returned the principal amount after the agreed period, the FIR stated.

The athlete's background

Gayakwad won a gold medal as part of the Indian women's 4x400-metre relay team at the 2018 Asian Games in Jakarta. The Asian Games is a continental multi-sport event held every four years for athletes of Asia and is recognised by the International Olympic Committee.

What happens next

According to the complaint, Bharti repeatedly gave assurances about repayment when she contacted him.

He allegedly sent her a photograph of a cheque for Rs 30 lakh through WhatsApp, claiming it had been issued towards repayment of her money, but he did not hand over the cheque in person.

She had been unable to contact him over the phone for the past two months. Police said efforts were on to nab Bharti, who is absconding. The investigation remains active at the Ahwa police station.

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